Bakery in Slovakia

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Executive Summary

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BAKED GOODS

Trends

Baked goods in Slovakia grew by 1% in current value terms in 2014, reaching a total category size of €498 million. Sales were driven by rising consumer purchasing power and rising health-and-wellness-awareness within the category, reflected in stronger demand for wholegrain variants of baked goods, and products enriched with, for example, sesame seeds, sunflower seeds and flax seed. Fresh bakery products were highly demanded by consumers, which supported sales of larger-format retail stores with their own in-store bakeries.

Competitive Landscape

Artisanal products led baked goods in Slovakia in 2014, commanding 73% of total retail value sales. United Bakeries as ranked second, accounting for a value share of 9%, followed by Penam Slovakia as with 7%. The remaining competitive environment is fragmented, made up of companies that hold a value share of 1% or less.

Prospects

Sales of baked goods are predicted to grow at a value CAGR of 1% at constant 2014 prices over the forecast period. Consumers will continue to opt for traditional products such as loaves of bread, rolls, buns and sweet rolls. Sales will be driven by slowly rising purchasing power and demand for higher-quality fresh products.

BISCUITS

Trends

Biscuits current values sales grow by 3% in 2014 reaching €95 million. Sales were driven by the rising purchasing power of Slovak households as well as rising health-awareness among local consumers. Biscuits with healthier and natural ingredients were strongly gaining in popularity in 2014 following widely discussed obesity issues. The obesity rate in the country has reached 19%.

Competitive Landscape

Opavia-Lu as led biscuits in 2014, commanding a value share of 19%, followed by strong domestic player IDC Holding as, which held a 12% share. Third position was occupied by Kraft Foods Slovakia as (renamed Mondelez Slovakia in July 2014) which held a value share of 10%. Tesco Stores SR as ranked fourth thanks to its private label assortment, and held a static 4% share, in 2014.

Prospects

Biscuits value sales are expected to grow at a constant CAGR of 2% over the forecast period. Sales will be driven by improving consumer purchasing power. Naturally sourced products, free of artificial preservatives and colourants, will see rising interest with new brands expanding the category portfolio.

BREAKFAST CEREALS

Trends

Breakfast cereals current value sales in 2014 declined by 11%, reaching a total of €23 million. Sales affected by the changing breakfast trends, particularly due to increasing number of Slovaks who are skipping breakfast altogether. Strengthening purchasing power among Slovak households as well as rising health-awareness also led to increasing dining out preference (foodservice) or simply snacking/eating on the way to work. Freshly cut fruit is becoming a more popular breakfast option. Breakfast cereals consumers demanded natural ingredients and products free of artificial preservatives and colourants in 2014. Breakfast bars are increasingly popular at the expense of breakfast cereals thanks to being a very convenient breakfast option.

Competitive Landscape

Cereal Partners Slovak Republic sro led breakfast cereals in 2014, commanding a value share of 33%, followed by Bona Vita Servis spol sro with 21% market share. Third position was occupied by Emco Slovensko spol sro with a 20% value share in 2014.

Prospects

Breakfast cereals is expected to post a value CAGR of 1% over the forecast period, reaching €22 million by the end of 2019. The mild category performance will be driven by growing consumer purchasing power as well as increasing health concerns, given that 19% of the population were classed as obese in 2014. Rising health-awareness and health-conscious consumers will boost sales of healthier products. Naturally sourced products fortified with minerals and vitamins, or lower in fat or sugar, will become increasingly popular over the forecast period.

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